The Logistics Industry Is Booming More Than Ever
The logistics industry is what keeps the world functioning. Whether drivers are transporting pharmaceutical goods or a package from your favorite store – the logistics industry is the reason it all keeps going.
During quarantine, when the world briefly stopped, companies sold out of goods and could no longer import more, and truck drivers had to stop delivering goods of all kinds. But the industry was able to make it through, and transportation and logistics have come out more vital than ever.
An already thriving industry is now booming, and many are excited to see what will come in the future. Here are a few ways the logistics industry is already thriving and how they will continue to succeed.
The Ability to Grow
The trucking and logistics industry is not going anywhere, any time soon. The E-commerce market is booming, and the logistics industry is booming with it. Whenever a person orders something online, another package will be put on a truck, and with more and more packages being delivered per day, the trucks are filling up fast.
This being said, the logistics industry is growing and will continue to grow. It is a stable industry that has proven it refuses to be affected by any obstacles that come their way.
One example of the trucking industry adapting for the future is turning their trucks into “Uber” like vehicles. There are already four apps on the market that offer these kinds of services for your trucks. This is yet another way to profit off your trucks when they are not being used for long hauls. This shows that this industry is willing to do whatever it takes to continue growing immensely.
The Economic Impact
Not only do transportation and logistics companies provide many jobs and strengthen the United States job market, but the industry also brings in trillions of dollars a year to our country. Some estimate that it makes up 10% of the American GDP and 12% of the world’s GDP. And the numbers will only keep rising within the next few years. In 2018, the global market was worth an estimated $9.6 trillion and is expected to rise to $15 trillion by 2023.
There are many modes of travel within the logistics industry, but the most popular and most profitable is trucking. In fact, 43% of global logistics in 2018 were thanks to trucking, and in the same year, trucking alone in the United States brought in over $365 billion. With global industry numbers continuing to rise by 2023, it is exciting to see how big the trucking industry in the U.S. will grow to by the same time.
We hope you are just excited about seeing where the logistics and transportation industry continues to go in the near future. If your business needs a logistics partner that will work with you to create the tools you need during this time, contact us today at 1-(800) 274-1237.